Turnbull's Agile Approach
What this means for young entrepreneurs
One of the key facets of Turnbull's plan is to encourage young people to come up with great new, innovative ideas and turn them into profitable businesses with incentives such as:
- A new $200 million CSIRO Innovation Fund to support investments in spin-offs and start-up companies.
- Tax breaks for early stage investors to help the 4500 startups that miss out on equity finance each year.
- Increases in funding targeting STEM (Science, Technology, Engineering and Maths) education and participation that will result in a more technologically literate and active population.
- Increased links with key overseas economies to allow Australians to have 'landing pads' in key centres of international innovation like Silicon Valley, San Francisco and Tel Aviv.
- Helping to remedy Australia's fear of failure by encouraging risk taking through changes to laws regarding bankruptcy and crowd funding.
Admittedly it's early days yet, but if our new PM's appetite for new tech, innovation and change continues into the future the ongoing benefits could mean that it will indeed be a very exciting time to be an Australian entrepreneur.
Please contact us @ Lateral Labs if you want to create your innovation!
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